Systems Engineering Laboratories, Incorporated

Company Deal

129,000 shares common stock

Transaction Type

Common Stock

Deal Description

Systems Engineering Laboratories, Incorporated added the net proceeds from this transaction to its general funds. From such funds, the company paid borrowings outstanding under its revolving credit agreements. These borrowings were incurred for working capital purposes. The company also used the general funds to pay an outstanding principal amount of subordinated debentures and of its 8% mortgage note. The balance of the funds was added to the company's working capital.